Margert Community Corporation
- Assets
- $3.5m
- Revenue
- $3.2m
- Investments
- $0.0
- Employees
- 9
- Location
- Far Rockaway, NY
- Founding
- 02/1981
- Data as of
- 03/2023
- EIN
- 11-2534700
Organization Overview
Margert Community Corporation is located in Far Rockaway, NY. The organization was established in 1981. According to its NTEE Classification (L81) the organization is classified as: Home Improvement & Repairs, under the broad grouping of Housing & Shelter and related organizations. As of 03/2023, Margert Community Corporation employed 9 individuals. This organization is the central organization for a national or regional group of organizations. Margert Community Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 03/2023, Margert Community Corporation generated $3.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.4% each year. All expenses for the organization totaled $3.3m during the year ending 03/2023. While expenses have increased by 7.7% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
MARGERT COMMUNITY CORPORATION PROVIDES NEIGHBORHOOD PRESERVATION SERVICES, HOUSING ASSISTANCE, AND HOUSING COUNSELING TO LOW-INCOME TENANTS AND HOMEOWNERS, THE ELDERLY, AND PERSONS WITH DISABILITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ENERGY EFFICIENCY AND HEALTH & SAFETY SERVICES THROUGH THE WEATHERIZATION ASSISTANCE PROGRAM.
ARPA
COMMUNITY-BASED AFFORDABLE HOUSING SERVICES INCLUDING HOUSING COUNSELING, REHABILITATION, PURCHASE ASSISTANCE, ETC.
WEATHERIZATION ASSISTANCE PROGRAM OWNER INVESTMENT LEVERAGED FUNDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rev Francis Shannon Chairperson | OfficerTrustee | 0.5 | $0 |
Adalberto Montero Vice Chairperson | OfficerTrustee | 0.5 | $0 |
Paul H Gannon Treasurer | OfficerTrustee | 0.5 | $0 |
Joseph G Barden Non-Voting Secretary/executive Direct | OfficerTrustee | 35 | $199,784 |
Harry Leroy Director | Trustee | 0.5 | $0 |
Daisie Rodriguez Director | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Brooklyn Mechanical Corp Mechanical Services | 3/30/23 | $901,463 |
Riverdale Electrical Services Electrical Services | 3/30/23 | $206,002 |
Consolidated Environmental Inc Hvac Services | 3/30/23 | $121,996 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,185,319 |
| All other contributions, gifts, grants, and similar amounts not included above | $20,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,205,319 |
| Total Program Service Revenue | $26,575 |
| Investment income | $20 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,233,654 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $199,784 |
| Compensation of current officers, directors, key employees. | $27,247 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $772,011 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $243,030 |
| Payroll taxes | $75,857 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $22,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $415,818 |
| Advertising and promotion | $3,228 |
| Office expenses | $33,213 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $72,000 |
| Travel | $6,046 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,776 |
| Interest | $4,711 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,579 |
| Insurance | $40,157 |
| All other expenses | $12,659 |
| Total functional expenses | $3,260,063 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $377,127 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $477,429 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $9,968 |
| Prepaid expenses and deferred charges | $12,825 |
| Net Land, buildings, and equipment | $2,535,271 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $117,003 |
| Total assets | $3,529,623 |
| Accounts payable and accrued expenses | $618,141 |
| Grants payable | $0 |
| Deferred revenue | $29,409 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $148,000 |
| Other liabilities | $117,003 |
| Total liabilities | $912,553 |
| Net assets without donor restrictions | $2,617,070 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,529,623 |